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2014 Prospective Franchisee Survey Results: Part 2

This is part 2 of our 2014 Franchisee Survey results. If you missed part 1, please click the back button at the bottom of the page.

What kind of franchises are prospective franchisees looking for?


What type of franchise are you seeking?


Full-time
Part-time
Either

 

Which franchise industries are you most interested in?


Accounting & Financial
8.7%
Advertising & Marketing
 
12.2%
ATM Franchises
9.6%
Automotive Franchises
5.8%
Business Services
24.0%
Children's Franchises
20.0%
Cleaning Franchises
13.3%
Coffee Franchises
28.2%
Computer & Internet
17.3%
Consultant & Business Broker
6.9%
DVD & Video
6.7%
Employment & Staffing
7.1%
Entertainment Franchises
19.6%
Fitness Franchises
14.9%
Food Franchises
43.3%
Golf Franchises
3.6%
Health & Beauty
15.8%
Healthcare & Senior Care
11.3%
Home Services Franchises
18.2%
Mailing & Shipping
10.4%
Moving & Storage
5.1%
Pet Franchises
10.4%
Photography Franchises
6.4%
Printer, Copying & Sign
5.3%
Real Estate Franchises
13.8%
Restaurant Franchises
25.1%
Retail Franchises
27.3%
Sports Franchises
12.0%
Training Franchises
8.0%
Travel Franchises
13.6%
Vending Opportunities
25.3%

 

How soon will they be buying?

More than half of the respondents are planning to buy within the next 12 months (61%), and 32% are looking to buy within the next 6 months.

How soon are you looking
to buy a franchise?

0-6 months
6-12 months
12-18 months
18-24 months
In over 24      months

 

Show me the money!

Potential earnings is the most important factor to respondents in choosing a franchise.

What is most important to you in choosing a franchise?

< Least Important             Rating Average
                  Most Important >
Brand name/recognition
Size of the franchise
Company age
Industry the franchise is a part of
Franchisee training and support
Operating territory (protected, exclusive, non-protected, etc.)
Initial investment amount
Franchise term length
Potential earnings
Marketing assistance

 

How much are prospective franchisees willing to spend?

How much in total are you planning to spend
to start a franchise?

Below $100K
$100-200K
$300-400K
$200-300K
$400-500K
Over $500K
Budget hasn't            been set yet

 

Where are they getting their funds?

More than half are turning to personal savings and retirement funds to finance their franchise. That fact could be why a majority of respondents are seeking lower cost franchise options. 63% are looking spend less than $100,000 to start their franchise venture.

Approximately what percentage
of the total investment are you
looking to finance through
outsiders (not personal savings/
retirement fund)?

0%
1% to 25%
25% to 50%
50% to 75%
More than 75%
And most are planning to invest on their own.

Are you planning on investing in a franchise on your own,
or as a part of a group?


On my own
As part of a group
Not sure
Thank you for reading the results of our 2014 Prospective Franchisee Survey! We hope these finding have been as enlightening to you as they have been to us.

 

About the Survey Selection

Respondents to this survey were not selected on a random basis.  Participants for the survey were invited through announcements sent through company newsletter mailing lists. This method does not qualify as a random sample of the whole prospective franchisee population and, as such, the results from this survey cannot be generalized to the entire prospective franchisee population.  Instead, these results are representative of the opinions of the prospective franchisee population in a certain segment.

For more information about the results of this survey and how the survey was conducted, please contact Franchise Direct at info@franchisedirect.com.

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